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Highlights
- Catalina’s first reported drill hole at Chicken Little returned 48 metres at 2.61g/t gold from shallow depth.
- Mineralisation begins at approximately 15 metres and remains open at depth, with the hole ending in gold mineralisation.
- Assays from 10 additional holes and around 4,000 samples from the broader Phase 1 campaign are pending.
- The company has a pro-forma cash position of approximately AUD 4.32 million, supporting drilling plans at Chicken Little.
- CTN shares were trading 66.67% higher at AUD 0.12 per share at the time of writing on 2 March 2026.
Catalina Resources Limited (ASX:CTN) share price surged 66.67% to AUD 0.12 per share at the time of writing on 2 March, extending its 12-month gain to approximately 78.57%, after the company announced a significant, high-grade, shallow, broad gold zone at its Yerilgee Project in Western Australia. The rally follows confirmation of a 48m intersection grading 2.61g/t gold from the first reported drill hole at the Chicken Little Prospect, marking a milestone in the ongoing Phase 1 drilling campaign.
High-Grade Gold Confirmed at Shallow Depth
The first reverse circulation (RC) drill hole, 26YGRC022, intersected 48m at 2.61g/t gold at shallow depth of approximately 15m. The broad intercept (>0.5 g/t) includes
- 20 metres at 5.64g/t gold from 40 metres, incorporating 8 metres at 11.6g/t gold from 42 metres and 3 metres at 2.72g/t gold from 53 metres.
- 3 metres at 1.12g/t from 16 metres
- 3 metres at 0.96g/t from 34 metres.
Individual assays returned values of up to 16.0g/t gold.
Mineralisation is hosted within banded iron formation and demonstrates a significant grade profile with a high-grade core surrounded by a substantial mineralised halo.
Phase 1 Campaign Builds Momentum
The results form part of the Phase 1 drilling program totalling 8,694 metres of RC and aircore drilling across the Central Yilgarn Project area. Drilling commenced in early December 2025 and was completed on 22 February 2026.
At the Chicken Little Prospect, drilling was designed to test an approximately 400-metre mineralised corridor defined through earlier surface sampling, historical RC drilling and recent work concluded by other operators.
Assay results for a further 10 holes at Chicken Little, covering 655 metres, remain pending. Across the broader Phase 1 campaign, approximately 4,000 samples are yet to be received and processed.
Geological Continuity and Expansion Potential
The first results from the Chicken Little Prospect have expanded the company’s understanding of the emerging gold system at Yerilgee.
Mineralisation begins at approximately 15 metres downhole and extends across a broad interval, including a defined high-grade internal core within a wider mineralised envelope. The grade distribution across successive samples indicates consistency throughout the zone, supporting geological continuity.
Importantly, the drill hole ended in mineralisation, indicating the system remains open at depth and warrants further testing.
Taken together, these factors point to potential extensions both along strike and at depth within the wider Yerilgee mineralised corridor.
Funding Position Supports Follow-Up Work
Following the divestment of the Nelson Bay River Project and a placement to Newcam Metals Pty Ltd, the company expects to hold a pro-forma cash position of approximately AUD 4.32 million, subject to completion. The company has indicated this funding base will support systematic follow-up drilling at Chicken Little.
The initial assay from Catalina Resources’ Phase 1 drilling at the Yerilgee Project has confirmed a broad zone of shallow gold mineralisation at the Chicken Little Prospect. With further assays pending and follow-up drilling planned, the company is progressing evaluation of the emerging gold corridor within Western Australia’s Central Yilgarn region.
